Finance Notes: City Football Group Injects $16M Into Goals Soccer Centre

September 13, 2017

A cash injection from the owners of Man City is "set to instill extra pace" into Goals Soccer Centre's U.S. business as it "suffered" slower U.K. sales growth than it had "hoped for." City Football Group put $16M into a joint venture that five-a-side football company Goals will use for its two existing U.S. sites. Goals CEO Mark Jones said that the pair would "aim to open at least two sites a year for the next five years with the focus initially on expanding its presence in California but then looking to Texas and Florida" (London TELEGRAPH, 9/12).

South Korean organizers of the FIFA U20 World Cup said Tuesday that they made nearly 6B won ($5.2M) in profit from this year's tournament. The local organizing committee for the 2017 U20 World Cup, led by Korea FA President Chung Mong-gyu, said that it generated 24.9B won ($22M) in revenue and spent 19B won ($16.8M). The organizers added that once the Ministry of Culture, Sports & Tourism approves their plan, they will work with the KFA and the government to start the construction of a new football center (YONHAP, 9/12).